Sidra acquires retail asset in Glasgow (GB)

Sidra expands UK portfolio with Glasgow retail park deal

Sidra Capital, the Shari’ah-compliant financial services company, has increased their UK presence by investing in a large commercial property leased to two leading British retailers at Great Western Retail Park, Glasgow. The long-term income-generating acquisition in Scotland, allows Sidra Capital to consolidate its holding on the park by adding retail brands Sainsbury’s and Pets at Home to an existing line up of household name tenants. The purchase price was not disclosed.

 

The acquired property forms part of the wider Great Western Retail Park which is one of the dominant retail and leisure destinations in Glasgow. The purchase consolidates Sidra’s existing holding at Great Western Retail Park which provides 193,628ft² of modern retail warehouse space on a 20.2-acre site which is leased to a wide range of leading retail and tenants and F&B operators including McDonald’s, Starbucks, B&Q, Currys PC World, KFC, Carpetright, Wren Kitchens and Mitchells & Butlers.

 

“Our latest core-plus investment gives further balance to our growing U.K. portfolio. We view this as a stable, defensive asset with committed, existing tenants and these factors will provide an attractive high yield,” said Hani Baothman, Vice Chairman of Sidra Capital. “Despite Brexit in Europe and macro-economic uncertainty, we remain committed to a U.K. market which continues to provide attractive investment opportunities. Sterling as a currency offers attractive investment opportunities, and by adopting a long-term U.K. investment strategy we are fully confident we can deal with any short term, Brexit-related issues.”

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